Against the backdrop of the uptrend observed in the international scrap markets, Taiwan’s import scrap market has also moved up. Market players report rebar demand in Taiwan was good this week, despite the slow rise of scrap prices. Major Taiwanese producer Feng Hsin has kept its local rebar prices unchanged week on week at TWD 18,500/mt ($572/mt) ex-works, decreasing by $1/mt on dollar basis amid exchange rate fluctuations.
Offers for ex-US HMS I/II (80:20) scrap in containers to Taiwan have increased over the past week from $359-360/mt CFR to $360-368/mt CFR. The lowest price recorded in an actual deal was at $360/mt CFR, indicating a $5-7/mt increase in actual price.
Japanese scrap suppliers are sharing offers for H1/2 (50:50) scrap by bulk to Taiwan at $370-376/mt CFR. Last week, this range was at $364-372/mt CFR. No deals in this range have been recorded this week.
Domestic HMS I/II 80:20 scrap prices in Taiwan have remained stable over the past week at TWD 11,300/mt ($349/mt) delivered to mill.
$1 = TWD 32.35